Alecto consolidates Mali exploration permits
JOHANNESBURG (miningweekly.com) – Aim-listed Alecto Minerals has consolidated its Kobokoto Est and Kobokoto exploration permits into a single permit that is valid for five years to December 2019.
The permit, which covers a 100 km2 area, includes the Massakama, Toukwatou, Goreba, Massakama Centrale and Rhyolite Hill gold discoveries, and forms part of Alecto’s larger Kossanto West project, which also includes the Koussikoto permit.
“[The consolidation] represents an important step to attracting and securing investment from potential joint venture partners as we seek to build on our success from the 2014 field season at Kossanto West,” CEO Mark Jones commented.
Exploration work completed by Alecto on Kossanto West last year, suggested that the area was host to a significant gold-bearing system. This was supported by the extensive and advanced artisanal mining activity at Kossanto West, which continued to assist Alecto’s geologists in identifying previously unknown areas of mineralisation, enhance the company’s understanding of the resource and confirm the prospectivity of the area.
“Management is now planning the next steps towards progressing this expansive project and delivering shareholder value,” said Jones.
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